Countless people trade in precious and industrial metals markets.
But very few of those people trade gold, silver, aluminum and copper with confidence. As a sector prone to double-digit intraday drops and advances retraced entirely only hours later, the fact is this: those who invest in metal markets are often about as relaxed as a bomb diffuser -- never knowing if cutting the green wire will lead to... Kablamo!
So, what's the solution? Well, in an inspiring webinar titled
"How Triangle Patterns Help You Trade Metals with Confidence," EWI's
Metals Specialty Service editor Mike Drakulich discloses his secret weapon for raising the odds of success. Mike starts off this 30-minute video with this opening remark:
"I want to show you how one of my favorite patterns in Elliott wave theory -- [the triangle] -- has given me some of my most successful forecasts of the last 20 years."
First, Mike shows you the following diagram of the various derivations of the Elliott wave triangle pattern in both bull and bear markets, alongside this brief description: "The triangle is a five-wave sideways moving pattern that often occurs in the fourth wave position of the larger trend."
The superior thing that sets the triangle above most patterns is that it introduces not one, but two opportunities to position for a major turn. Mike drives this point home in these insights from the "How Triangle Patterns Help You Trade Metals with Confidence" webinar:
- When triangles form in wave 4, the sideways consolidation leads to a final move in wave 5. This is usually a sharp and dramatic "thrust" to new highs or lows, depending on the prevailing pattern.
- Then, once wave 5 is complete, prices quickly reverse in a huge move back to at least the origin of the pattern.
Mike then spends the bulk of his webinar to examine a real-world example of the "two-trade" triangle via this chart of aluminum from 2007-8.
In his closing tribute to triangles, Mike offers this glowing endorsement:
"If you can recognize the triangle, and back it up with technical analysis of the RSI divergence, it presents you with some of the highest confidence trading patterns that you can have. And, in the business of forecasting, that's pretty much all you can ask for."
As
Metals Specialty Service editor, Mike's job is to scan the charts of the world's leading precious and industrial metal markets to find high-confidence patterns such as the Elliott wave triangle.
In fact, in the April 30 9:44 AM
Metals Specialty Service intraday update for silver, Mike spots just a triangle underway
in spot silver right now.
Subscribe today and get instant access to the trader-focused
Metals Specialty Service, and
get instant, free online access to the 30-minute webinar "How Triangle Patterns Help You Trade Metals with Confidence."
Metals Specialty Service Editor Mike Drakulich uses the Wave Principle and 30 years of market experience to help you replace the endless market possibilities with higher-confidence probabilities.
Subscribe today to get Mike's expert intraday and daily Elliott wave forecasts complete with key price levels, targets and valuable insights for gold, silver and other major metals.
Learn more about EWI's Metals Specialty Service now >>